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Kogan picks up Dick Smith online business

Dick Smith will become an online only retailer after its e-commerce business was purchased by Kogan.com.

Receiver Ferrier Hodgson in February announced the permanent closure of Dick Smith's 363 Australian and NZ stores, but the online business will pass to Kogan.com from June 1 after it beat several bidders for the Dick Smith online brand and customer database.

Chief executive Ruslan Kogan, who started his retail business by undercutting the likes of Dick Smith through selling televisions he sourced directly from manufacturers, said he would use the platform to make technology more affordable for consumers.

"Dick Smith is an iconic Australian brand and we're thrilled to be able to keep it alive, as well as Aussie-owned and run," Mr Kogan said in a statement.